For months, I waited to read the words “PPI Won“. You see, three years ago, I was mis-sold a PPI policy by a rouge insurance company. For some reason, I decided that I needed a brand new car. Unfortunately, I did not have the money to buy such an item, so I decided to take out a car loan. When I signed the credit agreement for the car loan, there was no mention of payment protection insurance. In hindsight, I should have been wary of the phrase “Your fully protected annual repayment amount will be £1600″, but I trusted the car salesman to inform me about any extras that I was paying for. That, in itself, was a big mistake. For three years, I ended up unknowingly paying PPI (payment protection insurance) premiums for my car loan. It was only when my best friend asked to look over my car loan credit agreement that we discovered that I was paying for PPI. Upon the discovery, I was very, very angry. I did, however, decide to handle the situation responsibly and I hired a claims management company to sue my car loan creditor. They helped me to sue my car loan creditor for mis-selling a PPI policy and, after several months, I received a letter telling me that I had won my PPI case. Result!

If you have ever had a credit card, loan or mortgage in the past there is a very good chance that you may have been paying payment protection insurance to your bank.

Payment protection insurance was in most cases completely unnecessary and it would appear that most high street banks have been guilty of mis selling this to their customers.

The good news is that you can get your money back. Back from the banks that diddled you in the first place. You can do this yourself or get somebody else to do it for you, paying them a commission out of your your claim.

Claims are being made and the financial services authorities have actually told the banks to speed up the payout of claims to the public. So find out if you able to claim – there’s a good chance you will be able to.

Find out if you can claim back ppi here.

Claims can take several month to process, and will involve having to request statements from your bank, and filling out some online forms. Many people are getting thousands of pounds back this way.